Right before the Q&A starts Phil says:

The is larger as a results of operations in our exploration and apraisal area which is moving from our resource estimates to which we target to an excess over a billion barrels of boe. Our anticpated transitioning from a net asset value valuation to an earnings and cash flow valuation will reap additional awards for our patient investors. With over 40 additional prospects on our 4 million acres, I think we are just getting started. Questions session begin.